The report offers crucial data about the pricing, cost, value, and manufacturing and production capacity, along with an analysis of the gross revenue and profit of the market
New York, NY -- (SBWIRE) -- 01/20/2021 -- Magnetic Field Sensor Market
Magnetic field sensors are used for detecting and measuring magnetic fields as these are small-scale microelectromechanical systems (MEMS). These sensors work by detecting effects of Lorentz force as resonant frequency and changes in voltage can be measured electronically. Widening applications across several end use industries, such as healthcare, electronics, and aerospace, are boosting demand for magnetic field sensor market.
Demand for wearable technologies has increased substantially from past few years and this is boosting demand for magnetic field sensors, which, in turn, is benefiting growth of the global magnetic field sensor market. Additionally, increasing penetration of magnetic field sensor especially in consumer electronics is propelling growth of its market. The technological innovations in the industries, such as consumer electronics, automotive, medical, manufacturing, and aerospace & defense, are boosting the adoption of magnetic field sensors, thereby driving market growth.
Furthermore, rising demand for magnets and magnet-based applications, especially electromagnets in automobiles are propelling growth of the global magnetic field sensor market. Increasing demand for speed sensing, detection, position sensing, and flow rate sensing, which is estimated to benefit the global magnetic field sensor market.
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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Magnetic Field Sensor market and profiled in the report are:
Asahi Kasei Corporation
LLC Infineon Technologies AG T
DK Corporation Melexis
Honeywell International Inc.
TE Connectivity, ams AG
The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2027 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.
The report further segments the market on the basis of product types and application spectrum offered by the market.
Product type overview (Revenue, USD Million; 2017-2027)
Hall Effect Sensors
Magneto resistive Sensors
SQUID Sensors Fluxgate Sensors
Range overview (Revenue, USD Million; 2017-2027)
1 microgauss–10 gauss
Application overview (Revenue, USD Million; 2017-2027)
Navigation and Electronic compass
Flow rate Sensing
End-user industry overview (Revenue, USD Million; 2017-2027)
Aerospace & Defense
Others (energy & power, food & beverages (F&B), and research)
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Regionally, North America is dominating the global magnetic field sensor market with significant revenue. This growth is attributable to high demand for sensors from applications across industries such as transportation, consumer electronics, BFSI, healthcare, and aerospace & defense. In addition, increasing automation across several verticals in the region is boosting the adoption of the magnetic field sensor market. Europe is estimated to acquire the second-largest share in the market owing to high consumption of automation and wearable technologies in the region. However, Asia Pacific is estimated to expand with a lucrative CAGR over the forecast period owing to the emerging trend of automation and changing lifestyles of people in the region.
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Market Segmentation & Impact Analysis
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Magnetic Field Sensor market and its competitive landscape.
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